Vancouver, BC / TheNewswire / May 30, 2017 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the “Company” or “Durango”) announces that it is planning further exploration for the Decouverte Property in relation to its grant from the Institut National de la Recherche Scientifique (“INRS”) as announced June 1, 2015, September 18, 2015, November 5, 2015 and November 30, 2015.
Durango’s wholly owned Decouverte (Discovery) property is in the Frotet-Evans greenstone belt in northern Québec approximately 100km to the northwest of the town of Chibougamau. Neighbours on the west side of the project is Osisko Mining Inc.’s (TSX-OSK) Assinica property and to the northwest is Beaufield Resources Inc.’s Troilus-Tortigny Property (TSX.V-BFD). The former-producing Troilus mine is approximately 60km northeast along the same fault. It is noteworthy to mention that there are three important massive sulphide showings to the west (Fallara, Rapides Assinica and Lucky Strike) and to the East are VMS deposits with proven resources (Tortigny, Lessard, De Maurès, Moléon).
The INRS grant (FQRNT-MERN-MINES) on the Decouverte property is being used to focus on defining the electromagnetic (EM) anomalies from Durango’s Dighem airborne survey, which may be indicative of massive sulphide mineralization.
The research grant is being used on the site of the Decouverte property to test the utility of deep penetration geophysical methods (audiomagnetotelleluric: AMT, Controlled Source ElectroMagnetics; CSEM) to document the VMS mineralization potential of the lake Pasquale area.
At the end of 2015, 9.9 km of magnetometric, gravimetric and electromagnetic (FDEM) surveys were carried out along 3 sections intersecting different lithological units and structures of the Decouverte property. These sections also intersect magnetic and EM anomalies detected by the DIGHEM heliborne survey. An audiomagnetotelluric survey was also realized to document the deep geophysics (0-1500m) under line 3 which intersects a large conductive magnetic anomaly.
Given the presence of formational conductors on the Decouverte property, gravimetry and sub-surface electrical resistivity work will be carried out to characterize the main anomalies detected by the DIGHEM survey. A follow-up exploration program (outcrops, erratic blocks) will be carried out in 9 sectors previously identified as priority. Finally, a lithogeochemical study will be carried out to document the geochemical signature of felsic volcanics in the southern part of the property. This sector includes base metal showings associated with felsic and intermediate volcanics. According to the report of Falconbridge Ni, these showings had been discovered by ground FDEM and magnetic surveys.
The work is planned to occur in late June and additional details will be announced as they become available.
Rock sampling has been conducted by INRS and is undergoing petrophysics laboratory studies on the Decouverte rocks. The geophysical, petrophysical and geological data of the Decouverte is being developed into a model of the deep geology on the property. Once the report is completed it will be announced and published on the corporate website of Durango.
Marcy Kiesman, CEO of Durango, stated, “The Decouverte property remains a compelling project for Durango due to its volcano-sedimentary environment and structural geology which increases the potential for a significant gold and /or VMS deposit. Durango is positioned for discovery as VMS deposits often occur in clusters which mean that the discovery of one may indicate that there are others nearby.”
The technical information in this news release has been reviewed and approved by Marc Richer-LaFlèche, P.Geo QC, a qualified person as defined in National Instrument 43-101.
The Decouverte property is in the Frotet-Evans greenstone belt approximately 60 kilometres southwest of the former Troilus copper-gold mine, which produced over two million ounces Au and 50,000 tonnes Cu from 1997 to 2010. The property covers approximately 5,900 hectares covering a synclinal fold nose of Archean units transected by a major northeast-trending shear zone. Durango carried out a helicopter-borne DIGHEM EM/magnetic airborne geophysical survey on the property in 2011 (NR Nov. 24, 2011) and soil geochemistry and prospecting in 2013 and 2014 targeting areas identified in the airborne survey. The geological setting is mainly mafic volcanics (basalts/andesites), in places strongly sheared, cut by pegmatitic granitic units, and significant sedimentary, oxide and sulphide facies iron formation units. Alteration including silica, sericite and iron carbonate is noted. Significant soil values included 174 ppb gold, 0.66 ppm silver, 150 ppm nickel, 200 ppm copper and 240 ppm barium. Chip/channel rock samples gave values of 7.6 g/t gold and 6.24 g/t gold hosted in narrow quartz veins in mafic volcanics, in the contact area with the pegmatitic granite. The property is located 100 kilometres north of Chibougamau, Québec and benefits from favourable infrastructure, including road accessibility, being 10 kilometres from Route du Nord, and a power line that bisects the property.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Québec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Québec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the exploration of its properties and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.